Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Advantages and Disadvantages of Debit Cards

By Sara Subscribe to RSS | January 13th 2012 | Views:
loading
 
  



Some of the advantages and disadvantages of debit cards are as follows-

Advantages-

1.Any consumer who is not credit worthy or finds it difficult to obtain a credit card can more easily apply a debit card, allowing to make plastic transactions.

2.The debit card user can use the limited amount available in his account, thereby preventing the user from racking up debt as a result of its use. Such cards do not charge any interest, late fees, or fees exclusive to credit cards.

3.Debit cards removes the hassles associated with having writing checks as payments like showing ID or give out personal information at the time of the transaction.

4.Besides avoiding check writing altogether, check cards debits funds from the user’s account on the spot. This in turn finalizes the transaction at the time of purchase and unlike a credit card doesn’t require paying any bill at a later date. Moreover a debit card doesn’t require writing an insecure check containing the holder’s personal information.

5.Unlike credit cards, debit cards don’t charge any higher fees or interest rates when cash advanced is obtained. A debit card user can obtain cash from an ATM or a PIN based transaction at no any extra charge, other than a foreign ATM fee.

Disadvantages-

1.Unlike credit cards, debit cards don’t provide its users with any grace period. They are quick and pay now deal.

2.Debit cards provide lower levels of security protection than credit cards. Theft of the users PIN using skimming devices is much easier than with a signature-based credit transaction. If your wallet is lost or stolen, the thief will likely have all the information they need to use your debit card for internet transactions.

3.Debit cards have pre-set spending limits. One can spend only with the amount available in his/her account.

4.Another peril the debit card users face is accidental charges. Many banks charge an overdraft fee, for money transaction and many also set a limit of daily, weekly or monthly transactions you can use your debit card for. And crossing this limit can also result in serious charges to your account.

5.Debit Cards do not allow you to build your credit history.

Debit Card is an electronic card issued by banks to customers. With the help of debt card one can purchases without carrying cash and accessible to all the bank for money transaction as per bank tie up.

Sara - About Author:
Debit card liability could cost you a lot. Contact national asset commercial to minimize you debt.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/finance-articles/advantages-and-disadvantages-of-debit-cards.htm

Related Finance Articles Subscribe to RSS

Writing a review on debt settlement
Published by Rajkumar Kaushal on April 30th 2012 | Finance
Have you been having problems with your Debt Settlement reviews Now your worries will now be a thing...
 
Do you need assistance with financial debt that has been around for decades?
Published by Deby Suportie on February 16th 2012 | Finance
Debts can often be difficult to manage especially when it has been around for quite a while already....
 
Exactly what is a debt management program and just how can I get this service?
Published by Deby Suportie on February 15th 2012 | Finance
This article provides information about debt management program and it's significance in today's tim...
 
The planned mode of action of the Michigan collection agency
Published by Alice Mark on August 7th 2012 | Finance
The collecting nexus assures you of all possible help. In fact, you can expect the skilled workforce...
 
Consumers of debt settlement
Published by Rajkumar Kaushal on May 17th 2012 | Finance
Exceptionally debt management and firms Debt information has become synonymous with keeping people. ...
 
Software collection centers in debt settlement
Published by Rajkumar Kaushal on May 17th 2012 | Finance
Most of us who have gone for reduction in debt settlement problem for debt settlement collector duri...
 
Debt Settlement and how its collection works
Published by Rajkumar Kaushal on May 15th 2012 | Finance
Debt settlement center has become the debt settlement place that men and women go for when they have...
 
Counseling debtors during debt settlement
Published by Rajkumar Kaushal on May 19th 2012 | Finance
When you are about planning for Counseling in debt settlement and debt activities, it is important t...
 
Settlement of debt in America
Published by Rajkumar Kaushal on June 23rd 2012 | Finance
Getting settlement in America when it comes to credit card is not very easy sometimes because of the...
 
Consultants for debt consolidation
Published by Rajkumar Kaushal on May 17th 2012 | Finance
Debt settlement has something to debt management for debtors. Debt consultants make the whole differ...
 
The best debt consolidation advice
Published by Fresh Finance on January 19th 2012 | Finance
Many cases of multiple charges, including credit card charges, economical credit score items from lo...
 
How can i get dependable credit card debt advice and exactly how could it benefit me?
Published by on March 27th 2012 | Finance
Credit card debt advice is a program provided by debt companies to help those people who are battlin...
 
How to choose the right debt management company
Published by James Falla on November 30th 2011 | Finance
There are many different debt management companies. We suggest the things you should consider when ...
 
What is debt advice UK and just how can one get this service?
Published by Deby Suportie on February 15th 2012 | Finance
Debt advice UK has aided many people affected by their debts. Through the years, providers have been...
 
Loans from debt settlement banks
Published by Rajkumar Kaushal on May 30th 2012 | Finance
In the beginning Debt settlement IIc firms that take care of loans started with products that were f...
 
Simply what does debt elimination signify and how can debt management programs help you become free of debt?
Published by Deby Suportie on April 4th 2012 | Finance
Debt elimination is a service given by debt management plans to provide assistance to those who are ...
 
The right way of outsourcing debt settlement
Published by John Taylor on December 15th 2011 | Finance
Those that are marketing debt resolution services, after a period may find, that there are far too m...
 
I am in a debt management plan and have been made redundant – what can I do?
Published by James Falla on November 28th 2011 | Finance
With the possibility of wages being reduced and jobs being lost as a result of the government cuts, ...
 
Contact Blake, THE professional and fair debt collection agency designed to take the hassle out of recouping your money!
Published by James Blee on June 16th 2012 | Finance
Leading from the front is Managing Director Howard Blake who understands the importance of successfu...
 
Setup your own backend debt settlement office
Published by John Taylor on December 26th 2011 | Finance
It’s best to pass on all your tax settlement issues to a competent tax settlement backend. These b...